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Will GGF Really Take Over The Pirate Bay? Could Be Doubtful
from the is-it-all-a-ruse dept
Martin points us to a video interview with Hans Pandeya, the head of GGF, the supposed new owners of The Pirate Bay. To be honest, the interview seems somewhat incoherent, where he doesn't actually answer the questions, and does little to elaborate on the confusing business model he's talked about with others:
But what I found most interesting about the interview is that Pandeya repeatedly notes that his shareholders will vote on the acquisition in August, and if the company cannot show a clear legitimate business model, he doesn't think they'll approve the acquisition. The questions try to dig down on this, and Pandeya doesn't really do much to answer them, but it certainly sounds like the company has a giant out. There are some other contradictions in Pandeya's statements, as well. At one point he implies that they'll have agreements in place with record labels in time for this vote, and if they don't, then people will vote against the deal -- but then says that it will take much longer to get those deals in place, and there's no way they'd be ready in time for the vote. The whole thing remains a bizarre mystery that is more confusing than enlightening... but I'm beginning to wonder if the deal will ever happen, in reality.
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Too little...?
Do the recognize that? Do they care? I dunno. Tune in next time, same bat-time, same bat-channel...
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Even if they default, it bought time
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"Agreements"
"At one point he implies that they'll have agreements in place with record labels in time for this vote, and if they don't, then people will vote against the deal -- but then says that it will take much longer to get those deals in place, and there's no way they'd be ready in time for the vote."
If you pay close attention, he is actually talking about two different agreements here. The first one he brings up is the one you are seeing (that will take months). However, BECAUSE those agreements will take too long, they are looking to get some kind of PRELIMINARY agreements that will buy them time (and set up how the final agreements will take shape). Those are the ones they need to get in place before the vote.
He doesn't explain it that clearly, and honestly I might have not figured it out if I hadn't watched it just after reading your criticism of it.
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Save The Pirate Bay
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Just a Pump and Dump
"Well, the press release is very clear: this isn't a sale, it's a reverse merger. And the "buyer" doesn't have the cash component of the "purchase" - they have to go raise that money now. And there's no actual business plan for what happens after the sale/merger - but someone is making good money moving worthless Swedish penny stock on the basis of the announcement alone: millions of shares change hands, day after day, all week. In non-Swedish, not-cool situations we call this "pump and dump" - if I did it, given that I"m not as cool or Swedish as TPB, the press would be all over me about it (appropriately). However, TPB's reality distortion field obviates that apparently."
http://cultureghost.org/viewtopic.php?f=17&t=2699
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Exclusive: The Pirate Bay 2.0
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